500 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 500 shares of the biopharmaceutical company’s stock, valued at approximately $33,000.

A number of other institutional investors have also recently added to or reduced their stakes in INCY. Greenwood Capital Associates LLC bought a new position in shares of Incyte during the 3rd quarter valued at $433,000. Andra AP fonden raised its holdings in Incyte by 35.2% during the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock valued at $15,022,000 after buying an additional 64,500 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Incyte by 54.0% in the second quarter. SG Americas Securities LLC now owns 67,936 shares of the biopharmaceutical company’s stock worth $4,118,000 after buying an additional 23,817 shares during the last quarter. Cypress Capital Group bought a new stake in shares of Incyte during the 3rd quarter worth about $971,000. Finally, Commerce Bank bought a new stake in shares of Incyte during the 3rd quarter worth about $610,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,745 shares of company stock worth $1,311,687 over the last three months. 17.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

INCY has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial reaffirmed a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Finally, Guggenheim raised their price target on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.16.

Incyte Stock Performance

NASDAQ INCY opened at $75.92 on Friday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $14.63 billion, a P/E ratio of 542.32, a PEG ratio of 8.60 and a beta of 0.69. The company’s 50-day simple moving average is $71.74 and its 200 day simple moving average is $65.76.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. As a group, research analysts forecast that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.